Home Appraisals FAQs - Appraisals

Appraisal related questions.  If you don't see your FAQ below; Submit your question: HERE
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1 What are the inspection requirements of a snow covered roof? 73
2 What are the typical steps to clean up a home oil tank leak? 82
3 What are the limitations on an appraisers license and property type? 82
4 How can a property owner identify a potential oil storage tank leak? 85
5 What are the new construction documentation requirements for FHA property appraisals of 90% or more complete? 88
6 What are the types of real estate value? 95
7 What is the Scope of Work of a real estate appraisal? 98
8 Which home renovations add the most to the homes value? 98
9 What are the types of interest held in real estate? 107
10 What are the the required qualifications of an appraiser? 109
11 Must an appraiser inspect the homes attic area? 110
12 Can a property with non-conforming zoning be financed with a FHA/HUD insured loan? 114
13 What is an appraisal comparable sale or lease? 114
14 What are the "three approaches to value" in a real estate appraisal? 115
15 How do I appeal the value of a VA (Veterans Administration) appraisal or NOV (Notice of Value)? 116
16 What does an appraisal report contain? 116
17 What is the definition of real estate Market Value? 118
18 Who owns the Appraisal Report performed on a property? 122
19 How is the Highest and Best Use of a real estate proterty determined? 124
20 Is FHA no longer accepting applications from state licensed appraisers to become approved ? 128
21 What is a Data Plate for a manufactured (mobile) home? 131
22 What is a HUD Label (HUD Tag) for a manufactured or mobile home? 132
23 What is USPAP (Uniform Standards of Appraisal Practice) and its origin? 142
24 Where is the Serial or VIN number found on a manufactured (mobile) home ? 146
25 Can you perform a Comp Check or Pre-Comp ? 151

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